Day: August 11, 2018

Every Portfolio Should Have Crypto, Method Used by Billionaire Investors

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Yale economist Aleh Tsyvinski, who has taught economics at the prestigious Yale university for many years, has said that every investor who believes bitcoin can perform as well as it did in 2017 should invest at least six percent of their holdings in crypto. “If you as an investor believe that bitcoin will perform as well as it has historically, then you should hold 6% of your portfolio in bitcoin. If you believe that it will do half as well, you should hold 4%. In all other circumstances, if you…

Crypto Markets See More Slump After Short Recovery Attempt, Bitcoin Holds Gains

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Saturday, Aug. 11: after short-lived recovery attempt yesterday, cryptocurrencies have suffered another slump today. Almost all cryptocurrencies are down by significant percentages, with Bitcoin (BTC) being a notable exception among the top 20 market cap, up under one percent on the day. Crypto market visualization from Coin360 Bitcoin is trading sideways, up by about 0.1 percent over the past 24 hours. The cryptocurrency is at the $6,438 price mark as of press time, following a dip to as low as $6,051 earlier today. After surging to about $8,230 on July…

BTCUSD Could Retest 2018’s Low

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The first time we saw a bear beating the hell out of somebody was in the Revenant. Then, it happened in February when bears attack knocked Bitcoin down from the $19,000-highs to the early $6,000-lows. A few months later, in June, Bitcoin revisited its previous yearly low and eventually broke it to establish a new one near 5756-fiat. And now, at the time of this writing, the digital currency is once again close to testing them both – thanks to an extended bearish run since bimonthly peak near $8,512. Bitcoin this…

Agency Receives 1,500 Suspicious Activity Reports on Crypto per Month

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Kenneth A. Blanco, director of the U.S. Financial Crimes Enforcement Network (FinCEN), has revealed that the agency has seen a surge in filings of crypto-related Suspicious Activity Reports (SARs). The number of complaints now exceeds 1,500 per month, according to him. Blanco’s remarks were made as part of a speech he delivered at the 2018 Chicago-Kent Block Legal Tech Conference August 9. The director outlined FinCEN’s ongoing role in regulation and law enforcement for the emerging crypto space, which it coordinates in tandem with the Securities and Exchange Commission (SEC)…

Why Code is Law and Self Regulating, Not the SEC

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First, let’s remember Satoshi’s words:  “We have proposed a system for electronic transactions without relying on trust” Snapping back to reality and lest we forget, cryptocurrencies including Bitcoin, Litecoin and Dogecoin are alternatives to the government backed fiat currencies. It’s peer to peer, digital, not issued from a single source and entirely backed by the trust of the community. That’s why it’s trustless and secured not by the whims of politicians or policy makers as they like to call themselves but by complex mathematical formulas—often proof of work. This is…

Facebook’s David Marcus Quits Coinbase to Avoid ‘Appearance’ of Conflict of Interest

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Facebook blockchain head David Marcus announced he was quitting his position on the board of U.S. cryptocurrency exchange Coinbase Friday, August 10, in a statement seen by various media outlets. Marcus, who joined the exchange’s board in December 2017 and took on a blockchain research group at Facebook in May, said he now thinks it is “appropriate” to leave. “Because of the new group I’m setting up at Facebook around Blockchain, I’ve decided it was appropriate for me to resign from the Coinbase board. “…I’ve been thoroughly impressed by the…

Crypto Trading 101: How to Read an Exchange Order Book

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It takes two to tango in the world of crypto trading, where a dynamic relationship between buyers and sellers is always on display in something called an order book. A tool that visualizes a real-time list of outstanding orders for a particular asset, order books represent the interests of buyers and sellers, offering a window into supply and demand. But while all order books serve the same purpose, their appearance can differ slightly among exchanges. That said, they are all built with the same features and functions. Examples from Coinbase Pro,…

Bitcoin and Ethereum Fall Substantially in $18 Billion Crypto Market Wipeout

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Over the past 24 hours, the crypto market has recorded a loss of $18 billion, as major cryptocurrencies including Bitcoin, Ether, EOS, and Bitcoin Cash dropped by 4 to 13 percent. While Bitcoin ended the day with a 4 percent decline in its value, Ether, the native cryptocurrency of Ethereum, plummeted by 13 percent against the US dollar, becoming one of the worst performing major cryptocurrencies alongside NEO. Tokens recorded the steepest drop in their value on August 11, as most Ethereum-based tokens such as Theta Token, Aion, Pundi X,…

South Korean Government to Promote Blockchain Training as Part of ‘4th Industrial Revolution’

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South Korea’s Ministry of Science and ICT will promote the training of blockchain technology as part of an effort to prepare young people for what it calls the “Fourth Industrial Revolution.” Blockchain technology is included in courses that have recently been announced by the Ministry of Science and ICT. The Ministry of Science and ICT believes the country faces a global transformation called the Fourth Industrial Revolution, according to its website, and is focusing on supporting innovation across all of society by building an environment that promotes autonomous research and…